I saw this on Facebook this morning;
"A Prime Minister resigned. The £ plummeted. The FTSE 100 lost significant ground. But then the £ rallied past February levels, and the FTSE closed on a weekly high: 2.4% up on last Friday, its best performance in 4 months. President Obama decided we wouldn't be at the 'back of the queue' after all and that our 'special relationship' was still strong. The French President confirmed the Le Touquet agreement would stay in place. The President of the European Commission stated Brexit negations would be 'orderly' and stressed the UK would continue to be a 'close partner' of the EU. A big bank denied reports it would shift 2,000 staff overseas. The CBI, vehemently anti-Brexit during the referendum campaign, stated British business was resilient and would adapt. Several countries outside the EU stated they wished to begin bi-lateral trade talks with the UK immediately. If this was the predicted apocalypse, well, it was a very British one. It was all over by teatime. Not a bad first day of freedom."
Is this legit or not?
Misses some key details e.g. there's an election in France next year and a lot of French politicians are actively now saying Calais' border can get stuffed. It ignores the Spanish saying they want a Spanish flag on Gibraltar.
It also ignores the biggest point: The Bank of England creating £250 billion worth of new debt to support the financial system, and stop it going to cak.
£250 billion. That's £250 billion that ultimately has to be covered by the taxpayer. Makes me so angry to even think about it.
This is only the start though. Natwest, RBS and Thomas Cook suspended currency exchange (
link). We haven't begun to see the impact of our new situation on fuel prices, on food costs, on all the other stuff we import, and that is before the recession the Bank of England has predicted hits. Then we're gonna be asked how we keep spending on public services with a smaller economy.
I'm saving as much as I can from my wage every month. We're not even outside of the EU yet and its already getting bad. Just wait until the two year exit period ends. Its gonna be a 'mare.